Space Stocks Soar: L3Harris Technologies (LHX.US) Surges Over 8%

Stock News01-08

On Thursday, U.S. space-related stocks experienced broad-based gains. L3Harris Technologies (LHX.US) led the charge, climbing more than 8%, while AST SpaceMobile (ASTS.US) advanced over 5%. Rocket Lab (RKLB.US) rose more than 3%, breaking through its all-time high, and Sidus Space (SIDU.US) gained over 2%.

The rally comes amid recent news that L3Harris has agreed to sell a 60% controlling stake in its Space Propulsion & Power Systems business to AE Industrial Partners for an enterprise value of $845 million. The company will retain a 40% ownership interest, a strategic move allowing it to sharpen its focus on core defense priorities.

Furthermore, the global defense sector has witnessed a collective surge, emerging as a key market focus. This uptick is driven by heightened global geopolitical tensions and the U.S. government's plans for a significant expansion of its military arsenal, with major impacts anticipated by early 2026.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment